The Past Week Saw a Couple of Bullish Indications on ETH Price, But the Signals Were More Aligned with the Long-Term Holders

The past week saw a couple of bullish indications on ETH price, but the signals were more aligned with the long-term holders.

The past week has seen a couple of bullish indications on ETH price, but the signals were more aligned with the long-term holders. Keep on reading to learn more about future ETH pr movements.

Massive ETH Withdrawal From Exchanges

Ethereum tokens had been flowing out at a high rate that was similar to the $380 million taken from centralized exchanges during the previous week.

The data chart showed that BTC and ETH saw rising withdrawal patterns since 2019. It reached new highs for ETH at Binance in early 2025 and has continued into the current period.

Strong accumulation patterns were mostly observed among whales during this period. The daily netflows underwent variations that produced a massive $166 million dip on April 26 before ETH price increased to above $1,750.

The relationship between increased ETH price and increased net outflows suggested that sell pressure in the market was decreasing. It created a positive sentiment among traders. The rise in cost action may lead to profit taking or financing concerns if the market players do not sustain the price rise.

Long-term outflow normally indicated bullish signs, but a neutral stance appeared sensible as unexpected market occurrences were capable of reversing the prevailing direction.

ETH’s short-term bullish trend could be more robust as long-term outflows have matched with rising price activity. It showed confidence as holders looked to keep their tokens.

Ethereum’s MVRV-Score

Assessing Ethereum’s modern MVRV Z-rating suggested the altcoin was in an undervalued position because the MVRV Z-rating was placed close to 0. ETH price usually experienced major rallies after its MVRV fell below zero during past events in 2018, 2020, and June 2022.

An ETH price surge from $100 to $4000 occurred after the MVRV rate registered negative levels during the initial part of 2020.

When writing, the Z-score showed signs of a bottoming trend since the indicator had come back to the accumulation area. It suggested that holders were experiencing minimal unrealized profits.

The ratio of 180-day MDIA helped distinguish between short-term investor panic and extended holding periods.

The previous market trends indicated that ETH price could recover as long-term holders would likely re-enter the market. At the same time, low MVRV could point to weak demand or show an excessive decline in investor base.

When writing, the ETH price position below $3,000 allowed MVRV indicators to detect low market values. However, such values may trigger more market losses if historical support boundaries fail to hold. Market sentiment growth could boost the Z-score while possibly starting an upward price momentum.

How Will ETH Price React To Investors’ Position?

In the last one year, ETH maintained values below its 365-day simple moving average of $2,849 while it existed at the current trading levels around $1,851.60.

The price data showed that ETH was waiting to validate its macro bullish trend. Historical price rallies directly occurred when short-term investor numbers (ETH Traders) surpassed 4 million.

The trader count was 3.92 million at press time. It indicated that short-term market momentum remained under control.

A price breakout may become possible when retail investor interest increases enough to recover the 4M level. The failure to reclaim this zone would probably generate extended periods of consolidation.

ETH Holders showed consistent growth since last year and currently count 104.26 million members. The long-term market sentiment toward ETH remained positive based on the extended accumulation trends.

Price recovery in the short term would probably stay restricted until it manages to break through SMA365 resistance. A bullish signal would emerge if ETH price exceeds the 7-day SMA and the traders’ count reaches 4M or higher. That will indicate possible $3,000 target levels.